Topics covered:
1) 0:00 Announcements
2) 0:15 Market Commentary and Index Review (Nasdaq Composite, S&P 500, and Russell 2000)
3) 12:00 Stock Review – Software: BILL, NET, DOMO, ZS, CRWD, DOCU
4) 14:50 Stock Review – Medical Products: ALGN, INMD, CUTR
5) 15:50 Stock Review – Semiconductors: SMH (ETF), NVDA, LSCC, AMAT, LRCX, MU
6) 17:05 Stock Review – Watch List/General Ideas/Commentary: SNAP, CELH, RDWR, ALNY, NKTX, HZNP, ORMP, WING, LULU, SKX, ZBRA, LTHM, ALB
7) 21:35 Conclusion/Summary

Market Summary:
In the last two videos, I mentioned that the biggest negative in the market is the upcoming seasonality, as August and September are traditionally two of the weaker and more volatile months of the year. I discussed that I reduced some exposure at the end of last week, and so far this week, I have reduced even further. Three ways to reduce exposure include: 1) Reducing the number of positions you own 2) Reducing position size and 3) Getting stopped out of positions when they turn against you. Unfortunately, I got stopped out of some positions this week and I discuss them in this video. As always, my style of trading isn’t for everyone. I’m simply trying to give visibility to the members who trade/own a concentrated group of growth stocks.

Here’s the biggest problem with this week so far. The volatility that I was expecting came in many growth stocks and sectors, but the S&P 500 and Dow Jones are at all-time highs. I know this can be very frustrating for members who like to trade growth stocks because they see many of their stocks decline while some of the major indexes seem immune to any major pullbacks. A few responses to this this: 1) Keep your head up. Not only is it important to protect capital, but it is also important to protect your confidence. 2) Be patient. After the big year many growth stocks had in 2020, this consolidation is normal. 3) Don’t beat yourself up. Growth has been in a correction since early February. You can see it in the following ETFs that I discuss in this video: IWO, IWM, MDY, ARKK, and FFTY.

Conclusion: Stay defensive. That doesn’t mean get bearish. It simply means to reduce your position size, minimize new buys, and have some cash to help deal with the volatility. It’s tough to get bearish on this market because there are still many positives. However, I’m not expecting any sustained moves over the near-term, so I prefer to keep things light until we get through the next 4-6 weeks. As always, I will take this one day at a time, but I think it’s a good time to keep things light and maybe even take some time off, especially if you are getting frustrated with this market. Again, keep your head up and protect your confidence. There will be another sustained move in growth soon. Just be patient until the opportunity presents itself. Thank you and good luck for the remainder of the week!

Unusual Option Activity
8/11/21 Z-Scaler (ZS) spread sells the November $200 puts and buys the $250/$270 call spread today for no cost, 1745X
8/11/21 CrowdStrike (CRWD) similar to the ZS trade as 1340 October $200 puts are sold to buy $260/$290 call spreads
8/11/21 PayPal (PYPL) opening sale 800 November $260 puts for $10.20
8/11/21 Editas (EDIT) with 1000 January $30 ITM calls bought today for $35.90 to $36
8/11/21 Alnylam (ALNY) buyers of 725 September $210 calls for $11.50
8/11/21 Horizon (HZNP) with 500 September $105 puts sold to open for $4.60
8/11/21 Cassava (SAVA) opening buyer of 1000 Aug. 27th (W) $108 calls this afternoon $12.90
8/11/21 Snap (SNAP) with 2,500 October $70 puts sold to open for $3.00
8/11/21 Snap (SNAP) also with 5800 Sep. 24th (W) $65 puts sold to open $1.02
8/11/21 Unity Software (U) with 2000 September $135 calls being bought this afternoon up to $2.25
8/10/21 Nvidia (NVDA) with 1000 June 2023 $205 calls opening $43.48 as the January 2023 $205 calls adjust out
8/10/21 Lululemon (LULU) with 250 March $380 puts sold to open for $27.85 to $27.50
8/10/21 CrowdStrike (CRWD) buyers of 500 January $370 calls for $5.50
8/10/21 Atlassian (TEAM) with 2,100 January $220 puts sold to open into weakness today for $3.70 to $3.45
8/10/21 Coinbase (COIN) with 350 March $250 puts sold to open between $38.30 and $38.10
8/10/21 Alnylam Pharma (ALNY) seeing some Sep $220/$250 call spreads bought as $200 calls adjust
8/10/21 InMode (INMD) seeing 2000 November $100 puts sold to open $6.50 to $6.40 into weakness today
8/10/21 Tesla (TSLA) saw a large opening buy midday for 2000 September $785 calls $12.65 offer sweeps
8/10/21 Align Tech (ALGN) with 265 January $580 puts sold to open today for $27.20 to $27
8/10/21 Advanced Micro (AMD) Aug 108 call sweeps, trading 10K on the day
8/10/21 DataDog (DDOG) big buyers of 5000 September $130 calls up to $5.40 into this dip
8/10/21 Snap (SNAP) Sep. 3rd (W) $82 calls with 1500X bought on the open already trading 7500X first five minutes
8/10/21 Snap (SNAP) into late day lows with 4000 Sep. 24th (W) $70 puts sold to open $2.45/$2.40
8/10/21 MongoDb (MDB) with buyers in the January 2023 $320 calls for $2.2M, adjusting the January $260 calls higher and out
8/10/21 Pfizer (PFE) with 5,500 March $45 calls bought for $5.30, adjusting the December $43 calls
8/10/21 Visa (V) the September 10th (W) $245 calls opening for $1.88 as the Aug. $255 calls roll out, 1600X
8/10/21 Visa (V) also seeing October $240 calls actively bought $7.05 offer and trading 3500X
8/10/21 US Steel (X) buyers of 4650 September $28 calls for $2.02 to $2.12
8/9/21 Apple (AAPL) trading 5000 June 2022 $165 calls $8.10 into the close
8/9/21 Snap (SNAP) Aug. $78 calls active w/ some good size lot buys today 5500X
8/9/21 DataDog (DDOG) with a late day buyer 1000 October $130 calls $8.80 offer
8/9/21 Elastic (ESTC) highs with buyer 266 Jan $185 OTM calls for $10.10
8/9/21 Crispr Therapeutics (CRSP) buyer of the August 27th (W) $141 calls for $10.90, over 685X as the August 13th (W) $120 calls adjusted higher.
8/9/21 Crispr Therapeutics (CRSP) also seeing 3450 Aug. 27th (W) $138 calls open up to $10.90 for more than $3.5M
8/9/21 Editas (EDIT) buyers of 1500 September $80 calls for $1.65 to $1.80 as the CRISPR plays continue to see a lot of bullish flows; EDIT has pivotal data due in Sept. as well
8/9/21 Micron (MU) seeing spreads sell October $72.5 puts to buy $87.5/$105 call spreads 4000X
8/9/21 Cloudflare (NET) buyers of 1750 November $135 calls for $7.70 to $8.55
8/9/21 Cloudflare (NET) also with 250 Jan. 2023 $180 max strike calls bought for $12
8/9/21 Etsy (ETSY) with 300 March $165 puts sold to open this morning for $18
8/9/21 Moderna (MRNA) buyer 1200 October $420 calls $65.82 to open as September $420 adjust
8/9/21 Moderna (MRNA) large spread buys 2000 January 2023 $470 calls for $151 and sells the September 2022 $640 calls for $81.10 and the September $550/$480 bull put spread for $48.93
8/9/21 Roblox (RBLX) buyer of 2,500 August 27th (W) $100 calls for $1.92, earnings on 8-16
8/9/21 Intellia (NTLA) with 950 September $165 puts sold to open for $14.90 to $15 as some Aug. short puts adjust out
8/9/21 ON Semi (ON) opening sale 1000 January $36 puts $1.50
8/9/21 Pfizer (PFE) buyer 5000 November $45 Calls for $2.46
8/6/21 Floor & Decor (FND) with 300 January $100 calls bought up to $24
8/6/21 Netflix (NFLX) afternoon buyers of 1,700 October $530/$570 call spreads for $11.12 to open